2012 Fiat 500; Extra Clean!! on 2040-cars

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Fiat updates Euro-spec 500 with new equipment, Cult trim

It's been seven years since Fiat relaunched the 500, and it has, by and large, been a runaway success for the Italian automaker. Numerous variations on the theme have followed - from the convertible 500C and performance-oriented Abarth models to the 500L minivan and upcoming 500X crossover - but it's high time that Fiat give the original hatchback a bit of a refresh, and that's just what it's done... to some extent, anyway.
Debuting this week at the Geneva Motor Show, the updated 500 features a number of enhancements to keep it fresh and with (if not quite ahead of) the times. That includes a redesigned instrument cluster centered around a seven-inch TFT display developed by Magnetti Marelli. There's a new 900cc turbo two-pot TwinAir engine being offered with 105 horsepower and 107 pound-feet of torque that can get a Cinquecento so equipped to 62 miles per hour in 10 seconds and on to a 117-mph top speed while delivering 67 miles per gallon (at least on the European cycle). Finally there's a new Cult trim level pictured here, being added to the top of the range that builds on the Lounge trim with more equipment like 16-inch alloys, gloss black roof, chrome or gloss black wing mirrors and more.
We're still waiting to find out what, if any, of this equipment will make the jump to the US model, but for now you can scope out the press release below and the high-res images in the gallery above for a closer look.

2013 Fiat 500c Abarth takes its top off with a quickness

What a pleasant little piece of plug-and-play. Putting the Fiat 500c's retractable roof on the hot 500 Abarth was pretty much a no-brainer, and hey, we certainly aren't complaining. Folding the soft top back on the little hatchback will only allow us to better hear that awesome exhaust note while we're burying the throttle. And come on, who doesn't like a little wind-in-your-hair action?
Again, the 500c Abarth package is pretty much a copy/paste job, so dynamically, the car isn't all that different. Under the hood is the same 1.4-liter MultiAir turbocharged inline-four, good for 160 horsepower and up to 170 pound-feet of torque (assuming you pressed the Sport button on the dash - something you really, really ought to do). A five-speed manual transmission is the only 'box available. And don't you dare complain about that.
New enhancements for the 2013 500c Abarth include an available Beats Audio system, and buyers will be able to attend a no-cost Abarth Driving Experience, where professional racers will show customers how to make the best use of their cars under full-throttle track applications. Pricing hasn't been announced just yet, but we expect to have that closer to the car's on sale date early next year. Hit the jump for the full deets, and check out the scorpion-stung cabriolet in our attached galleries.

Chrysler purchases remaining shares from VEBA Trust, announces funding plan

It's official: The Detroit Three is now The Detroit Two and The Fiat Subsidiary, Chrysler. Both the Italian carmaker and The Pentastar announced the completion of cash payments and a Memorandum of Understanding (MOU) on future payments necessary to make the Chrysler Group a wholly-owned subsidiary of Fiat. As previously detailed, Chrysler made a cash payment of $1.9 billion and Fiat North America made a cash payment of $1.75 billion to the Voluntary Employment Benefit Association (VEBA) run by the United Auto Workers union.
On top of that, Chrysler Group signed an MOU that agrees to payments of $700 million to the VEBA in four installments, the first of which was made concurrently with the other cash payments. And for you trivia mavens, the full name of the UAW is the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America. So go impress your loved ones with that nugget after you check out the press release below.